Social Security Cola 2024 Increase

Social Security Cola 2024 Increase. Social security recipients will get a 3.2 percent increase in their monthly payments next year, the social security administration (ssa) announced oct. Over the last decade the cola increase has averaged about 2.6 percent.

Next year’s cola is a far cry from the 8.7% adjustment for 2023, which was the highest in more than 40 years and aimed to help senior citizens and people with disabilities. The cola was 3.2 percent in 2024.